(UDHAYAM, COLOMBO) – The dollar dipped to a five-month low against the yen on Monday (17) as rising tensions over North Korea kept the safe-haven Japanese currency in demand.
The dollar index against a basket of major currencies was down 0.2 percent at 100.390 .DXY, weighed down following the release of Friday’s weak U.S. retail sales and consumer prices data and as flight-to-safety drove U.S. Treasury yields to five-month lows.
The U.S. currency extended losses from the previous day and retreated to 108.135 yen JPY=, its lowest since mid-November.
The yen remained broadly bid against other currencies as well. The euro and the pound slid to five-month troughs of 114.955 yen EURJPY= and 136.05 yen GBPJPY=, respectively.
Increasing geopolitical risks another notch, North Korea on Sunday made what was believed to be a failed missile test launch. Regional tensions have risen over the past weeks as U.S. President Donald Trump has taken a tough rhetorical line with Pyongyang.
Courtesy: REUTERS
